Hello, all: I've looked all over the board, but couldn't find any info on NFCU HELOCs. I have 100% equity in my home @approx $374K and I'm searching for a HELOC to help pay medical expenses. I'm retired with an after tax income of $52K. My FICO 2,4,5 is 611 EQ, 648TU and 622 EXP, but I have 2 medical collections that fell through the cracks (both under $50 that can't be removed--I asked) 2 other baddies within the last 24 months. Otherwise, I have very little utility (under 10%) I just joined NFCU recently. Is there any chance of getting a HELOC through NFCU? If so, does anyone know how long it takes?
Best bet is to call them and see what you can qualify for. They wont do a credit check for that, it's just a debt to income ratio check. The hp will come once you decide you want to apply for whatever program they have available for you.
Thanks. I did try to get info from them, but all I could get out of them was advice to try the application and see what happens. I really don't want to waste a HP if there is no reasonable chance of approval. I don't have any real debt, so DTI isn't the problem. My scores are the problem--but they are low mostly because I don't use credit anymore. I've paid everything off.